RE:I've reached out to Terry and associate.apapas1973 wrote: The process of the new pnpn and spinco shares may not be what myself and probably most think. The purpose of this is to have DIRECT OWNERSHIP of the shares. I was under the impression that in my case TD will just perform the transfer of shares ( which is the usual). However there's a schedule A form that pnpn has drawn up that we could fill out and send to our brokers requesting that they transfer these shares DIRECTLY TO OUR NAME. The way I'm interpreting this is to remove the shares from the broker so that they don't have access to be borrowed and shorted. I think. Normally I would never post any information directed to me from any company. It's confidential. But in this case this affects all shareholders here and it's public information . Terry spoke about this in the last video. I'm going to post a chunk of the email below and everyone can interpret it how they see fit. Let me know what you think. Pay close attention to #4. ------------------------------
My name is David Melles, and I am working with Power Nickel to assist in the company’s Spinco initiative. Terry had asked me to follow-up with you.
As Terry mentioned, the concept of this whole exercise is to have direct ownership of your current shares and the new Spinco shares. For the Spinco shares, you will receive more information as soon as it is ready. It will be press released.
But to get the process started, we need you to do the following:
- Register your shares with your broker if they have not already.
- Request your broker to have your shares in your name directly. To accomplish this:
- Please fill out Schedule A (above). If you can sign the form (electronically or by hand) it will be great but not necessary.
- Email your completed Schedule A form to your broker.
- Request a copy of your completed Schedule A go to the CFO of the financial company.
- Make sure you get your shares in either electronic (the usual method today) or physical form.
- Once you get your shares, please keep them in a safe place until Power Nickel’s subsequent news release.
To ensure expediency and effectiveness, we recommend you correspond with your broker via email. This will be the fastest possible way for you to get things done.
If you have any question, do not hesitate to send me an email.
Kindly,
David Melles
What a horrible confusing explanation from someone allegedly expert in these matters. David needs to try again. As for your broker being able to borrow or lend your shares, they can NOT do this unless you hold your shares in a MARGIN account AND you have currently a margin balance. If you hold the shares in a TFSA or RSP or a cash account - - - no margin they can NOT touch borrow or lend your shares. Same will apply to any shares in your account including spinco shares. My shares are all at TD in "safe" accounts. TD is not first out if the gate ever with new shares showing up in my accounts so if the issue date is jan31, don't even look for anything before a happy Valentine's Day 2 weeks later. Good luck to us all. Let's see if there ever was a big naked short position. Maybe just like friends character and it's just me ugly naked guy.